TELUS International (Cda) (NYSE:TIXT) Lowered to Underperform at Bank of America

Bank of America cut shares of TELUS International (Cda) (NYSE:TIXT) from a buy rating to an underperform rating in a research note published on Monday, Marketbeat.com reports. Bank of America currently has $4.00 target price on the stock, down from their previous target price of $11.00.

A number of other research firms also recently commented on TIXT. Citigroup dropped their price objective on shares of TELUS International (Cda) from $10.00 to $8.50 and set a neutral rating for the company in a research note on Monday, April 22nd. BMO Capital Markets dropped their price objective on shares of TELUS International (Cda) from $9.50 to $7.50 and set a market perform rating for the company in a research note on Friday, May 10th. Barclays dropped their price objective on shares of TELUS International (Cda) from $9.00 to $7.00 and set an equal weight rating for the company in a research note on Monday, May 13th. Canaccord Genuity Group decreased their target price on TELUS International (Cda) from $16.50 to $16.00 and set a buy rating for the company in a report on Tuesday, May 7th. Finally, William Blair cut TELUS International (Cda) from an outperform rating to a market perform rating in a report on Friday. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, TELUS International (Cda) presently has a consensus rating of Hold and a consensus price target of $8.65.

TELUS International (Cda) Price Performance

TELUS International (Cda) stock traded down $0.27 during midday trading on Monday, reaching $3.05. 2,418,743 shares of the company were exchanged, compared to its average volume of 269,325. The company has a market capitalization of $325.83 million, a price-to-earnings ratio of 21.07, a P/E/G ratio of 0.61 and a beta of 0.74. The firm’s 50-day simple moving average is $5.92 and its 200-day simple moving average is $7.66. TELUS International has a 1 year low of $2.95 and a 1 year high of $11.51. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.16 and a current ratio of 1.16.

TELUS International (Cda) (NYSE:TIXT) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.03). The company had revenue of $652.00 million for the quarter, compared to analysts’ expectations of $682.32 million. TELUS International (Cda) had a return on equity of 11.67% and a net margin of 2.54%. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.16 EPS. On average, analysts anticipate that TELUS International will post 0.95 EPS for the current year.

Hedge Funds Weigh In On TELUS International (Cda)

Several institutional investors and hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in shares of TELUS International (Cda) during the 4th quarter valued at approximately $124,000. DGS Capital Management LLC raised its position in shares of TELUS International (Cda) by 66.4% during the 4th quarter. DGS Capital Management LLC now owns 29,133 shares of the company’s stock valued at $250,000 after acquiring an additional 11,624 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of TELUS International (Cda) during the 4th quarter valued at approximately $132,000. Intact Investment Management Inc. acquired a new stake in shares of TELUS International (Cda) during the 4th quarter valued at approximately $1,599,000. Finally, Vanguard Personalized Indexing Management LLC raised its position in shares of TELUS International (Cda) by 49.5% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 19,341 shares of the company’s stock valued at $166,000 after acquiring an additional 6,406 shares in the last quarter. 59.55% of the stock is currently owned by hedge funds and other institutional investors.

About TELUS International (Cda)

TELUS International (Cda) Inc design, builds, and delivers digital solutions for customer experience (CX) in the Asia-Pacific, the Central America, Europe, Africa, North America, and internationally. The company provides digital experience solutions, such as AI and bots, omnichannel CX, enterprise mobility solutions, cloud contact center, big data analytics, platform transformation, and UX/UI design; and customer experience solutions, including work anywhere/work from home, contact center outsourcing, technical support, sales growth and customer retention, healthcare/patient experience, and debt collection.